The deal with Sony continues an existing relationship between the partners. As Deadline reported in May, Stolen Picture’s first project is Slaughterhouse Rulez, currently in production for Sony Pictures International Productions. The horror comedy stars Finn Cole, Asa Butterfield, Hermione Corfield and Michael Sheen, alongside Pegg and Frost. Crispian Mills is directing from a script he co-wrote with Henry Fitzherbert. Sony Pictures Releasing International has worldwide rights.

Pegg and Frost first worked together on cult Britcom Spaced and have since collaborated on three films with director Edgar Wright — Shaun Of The Dead, Hot Fuzz and The World’s End. They also co-wrote and starred in alien comedy Paul in 2011. Combined, the movies have grossed more than $254M at the worldwide box office.

Pegg is currently reprising his role in the latest Mission: Impossible and Frost is filming the third season of AMC’s Into The Badlands. Together, they are “inordinately excited to be partnering with Sony,” and are also hoping “to receive free Walkmans and a lifetime’s supply of cassettes.”

Ketley was previously COO at Bad Wolf and also held positions at media law firm Wiggin LLP and Fox Searchlight.

The stake in Stolen Picture adds to SPT’s global stable of wholly-owned or joint venture production companies which now number 21 in 12 countries. Its UK investments include Pete Czernin and Graham Broadbent’s Blueprint Television and The Crown producer Left Bank Pictures.